Sunday, September 22, 2013

Defending savers: a letter to Mr Peter Hitchens

Mr Peter Hitchens
c/o Mail on Sunday
Associated Newspapers Limited
Northcliffe House
2 Derry Street
London W8 5TT

Monday, 16 September 2013

Dear Mr Hitchens

Inflation protection and government’s abandonment of its moral obligation to savers

I emailed you on 1st September in response to your Mail on Sunday article that day (the “Who do you think you are kidding, Mr Carney?” section on monetary inflation and savers). If you have seen it and are simply not responding, then that’s fine, because you must be very busy.

But in case the email has not been forwarded to you (and I also tried to follow up with a comment on your blog that may have been blocked), please find enclosed a copy of what I said.

In brief, it seems clear that when NS&I Index-Linked Savings Certificates were first introduced in 1975, both sides of the House in both Houses of Parliament accepted that protecting savers and pensioners from inflation was a social obligation.

Doesn’t this strengthen the case for restoration, and will you – with your high profile - help?

Yours sincerely

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